(Newser)
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Yesterday's meeting of French President Nicolas Sarkozy and German Chancellor Angela Merkel underwhelmed markets, which had been hoping for more radical steps to help the euro zone, reports the Wall Street Journal. It seems investors want more than what the two proposed—among other things, an elected euro-zone president—as Sarkozy's announcement that France and Germany were against creating euro-zone bonds or enlarging bailout funds sent money streaming into US Treasurys.

"We can't solve problems in a big bang," Merkel said. "What we are proposing will allow us to regain confidence step by step." But with 17 countries sharing a currency but not fiscal authority, experts say the euro zone is fundamentally flawed—and will continue to be, unless the proposed euro-zone head is handed the power to sanction profligate spenders. "A fundamental discrepancy remains between what markets need and what politicians can offer," said one bank economist.

The EuroZone is an ill conceived Lefty idea that will soon crash into reality. Without the ability to have stricter control over the Euro, the inferior Euro nations will suffer and drag the Euro down with them. Europe's history is one of national conflict and survival of the fittest, not cooperation and peace. ALL Left wing economic policies are doomed to failure.